Global Prostate Cancer Therapeutics Market Set For Rapid Growth, to Grow 8 Percent

The global prostate cancer therapeutics market was valued at approximately USD 10,100 million in 2017 and is expected to generate revenue of around USD 17,200 million by end of 2024, growing at a CAGR of around 8 percent between 2018 and 2024. The uncontrolled growth of prostate gland cells leads to prostate cancer. In the US, prostate cancer is the one of most common cancer after skin cancer in men. According to the American Community Survey, in the US, prostate cancer was the second foremost cause of death amongst the cancer deaths in men in the US The initiatives taken by the top players in partnership with various governments to generate awareness about early clinical symptoms of prostate cancer and accessibility of diagnostic & screening tests such as Digital Rectal Exam (DRE) and Prostate-Specific Antigen (PSA) helps in early disease detection, which is expected to propel the growth of prostate cancer therapeutics market in the near future.

The global prostate cancer therapeutics market is segmented into product type, distribution channel, and geography. Based on the product type, the prostate cancer therapeutics market is segmented into hormonal therapy, chemotherapy, targeted therapy, and immunotherapy. The hormone therapy is further segmented as luteinizing hormone-releasing hormone (LHRH) antagonists, anti-androgens, and luteinizing hormone-releasing hormone (LHRH) analogs, which includes Zoladex, Lupron, Eligard, Decapeptyl, and others. Based on chemotherapy, the prostate cancer market is segregated into Jevtana, Mitoxantrone, Taxotere, Estramustine, and others agents.

Based on product type, the hormone therapy accounted for the highest share in the global prostate cancer market in 2017 and is expected to remain dominant. Hormonal therapy is also known as androgen deprivation therapy (ADT). The hormone therapy helps to decrease the level of androgens that are male hormones which stimulate the growth of cancer. Suppressing the hormone level, the drugs help to reduce the growth of cancer of prostate. The immunotherapy drugs for prostate cancer are expected to register the highest CAGR in the global market. The rapid adoption and development of immunotherapy drugs is the key factor contributing towards the high growth of segment in the global market. PROSTVAC and INO-5150 SynCon are the new upcoming drugs to market which are currently in pipeline. The introduction of novel drugs is expected to propel the growth of the segment in the global prostate cancer therapeutics market.

On the basis of the distribution channel, the prostate cancer therapeutics market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy distribution channel accounted for the largest share in the global prostate cancer therapeutics market in 2017. The rising number of the patient pool for medical care in hospitals is the chief factor contributing towards the high share of segment in the global market. The online pharmacy is expected to register high CAGR in the global prostate cancer therapeutics market.

Geographically, the global prostate cancer therapeutics market covered five main regions namely; North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America accounted for the highest share in the global prostate cancer therapeutics market in 2017 and is expected to remain dominant over the coming years. The Asia Pacific is anticipated to register high growth in the global prostate cancer therapeutics market. Some of the key players cover in prostate cancer therapeutics market are Amgen, Inc., Pfizer, Inc., Johnson & Johnson, AbbVie, Inc., AstraZeneca, Bayer AG, Sanofi, Ipsen Group, Dendreon Corporation, and Endo Pharmaceuticals, Inc. – Zion Market Research